With the ever-increasing number of businesses in every market, staying in the cut-throat competition is becoming more challenging. And branding is the only way that can come to your rescue. Almost every business owner/marketer pays utmost attention to their branding effort and sets aside a big marketing budget.
In fact, a powerful brand evokes interest among the audience, attracts new customers, and builds up a band’s entire marketing strategy. Therefore, making and protecting a solid brand are key factors determining how much revenue a business can generate.
So, being an entrepreneur, you should consider sales branding as an investment. Many reputed organizations, such as Facebook, Apple, Microsoft, etc., have invested enormous money in branding, and their brands are valuable assets.
Michael Eisner, a former CEO of Disney, has rightly said, “A brand is a living entity, and it is enriched or undermined cumulatively over time, the product of a thousand small gestures.”
A strong brand drives revenue. Here are some facts and stats that show how the revenue is related to brands.
- Brands with strong reputations have more engaged employees, providing their companies an opportunity to grow profits 3X-faster than the competitors.
- Strong brands offer a 31% higher shareholder return.
- In the B2B market, the top 10 brands having the best customer connections had a 31% greater revenue growth than the 10 lowest brands over 3 years.
Many marketers believe that only large consumer companies can realize these profits. They invest huge amounts of money and time in promoting their brands and then realizing a higher return on investment (ROI). But B2B companies now realize the advantages of building a solid brand. Consistent messaging and storytelling to convey a mood with appropriate visual identity can help your business realize a return from your brand unification — irrespective of the size.
Here are key advantages that strong brands provide a business
- Stronger customer loyalty
- Enhanced customer recognition
- More exposure to prospective customers
- Greater employee motivation, and
- More brand revenue
A powerful brand is built on consistency and relatability. Now, I will discuss some unique and proven ways that can boost your business revenue with the help of branding.
How to increase your business revenue with branding
Branding has a significant role in increasing sales, and a sale is directly related to your business revenue. Your strong brand identity will help you increase customer loyalty, which in turn will boost sales. Here’s how you can improve your revenue with the help of branding.
Build brand identity with a compelling story
Building a brand identity is imperative for brand awareness marketing. However, enticing visual identity isn’t just enough. A logo design is indeed the face of a business, and it should be memorable, but brand identity is more than that. In fact, you must be bold with your storytelling to have a powerful branding strategy that attracts potential audiences. If you need a professional logo for your business, a graphic design website such as Designhill can help you.
A great brand story highlights the company’s values, mission, customer service and focuses on building goodwill for the business. Your company’s website can be an excellent platform for you to narrate your brand’s distinct story. However, you can also do so through advertising. A unique and bold advertising message can substantially impact prospects, driving their purchase decisions.
Find your niche
Finding out your niche is perhaps the most crucial aspect of your marketing strategy. This effort will let you figure out who your potential audience is. And conveying your brand message to them and convincing them to buy your products or services becomes imperative to grow your business — irrespective of your business’s domain and size.
With most organizations spending big money on showing who they are and what products or services they offer, the importance of this marketing aspect can be easily understood. Once you have identified whom to target, you can be in a better position to design audience-specific strategies and use retargeting to build a powerful brand that will help you attract more audiences to your sales funnel. This will definitely boost your sales by multifold, even with lesser efforts.
Use visually appealing branding techniques
Beautiful colors and striking graphics grab human attention first. Scientific studies have established that human eyes process visuals 60K times faster than text. So you must include attractive and relevant graphics in your marketing materials in adequate proportion. Most marketers and business owners understand its importance and follow this rule.
Suppose the elements of your visual identity, such as logo design, fonts, palette, brand color, animation, etc., are attractive. In that case, your target audience will retain your unique brand image in their memory for a more extended period. So before you begin creating these elements, make sure they are visually appealing. For logo ideas and inspiration, you can refer to different online sources.
Leverage consistent & clear messages on all marketing platforms
Establishing trustworthiness and authenticity are key factors in marketing and sales. Usually, customers prefer to buy a product or service from a brand and recommend it if they trust the brand. And trust isn’t built overnight but takes years with consistency and clarity of marketing messages. Make sure your brand awareness marketing is consistent and clear across the platforms if you want your brand to stand out in the cut-throat competitive market. Be it TV commercials, social media posts, billboards, or other marketing ads, your brand message must be clear and align with ads on different platforms.
Moreover, your branding strategy should build credibility for your brand, consequently increasing your business sales. McDonald’s, for instance, uses the “I’m Lovin’ It” tagline consistently across all its marketing channels. It gives a sense of confidence and determination to take action in the fast-food industry. This confidence made McDonald’s one of the most trusted and successful brands in the fast-food sector over the years.
Retargeting & AdSense Auto Ads
What do you want from branding? Of course, you would like your branding to evoke your target audience’s emotions and make them think about your brand, especially at the time of purchase.
Retargeting and paid advertisements are excellent ways to reach out to potential customers. You can make your brand appear before them again and again. Google AdSense Auto ads help marketers find the right place to publish their ads online. Machine learning (ML) and Google algorithm help place ads automatically on the best websites for spreading awareness. As a result, your brand will reach your target audience through online advertisements while increasing sales and getting more ROI (return on investment).
So, if you successfully create the desired brand perception in your potential customer’s mind, you’ll be able to draw more and more customers to the sales funnel.
Now that you’re well aware of the techniques to build a strong brand, it’s time to act accordingly. A cool & memorial plays a vital role in business branding. Use an online logo creator tool to design a logo hustle free.
Think about who you are and why a customer should buy your products or services. If you can answer these questions honestly, you are in a great position to build a strong brand and generate more revenue for your business.
Hariom is a digital marketer, brand consultant, and business strategist with Designhill, a reliable marketplace for logo design, business cards, web design, T-shirt printing, and other graphic design products. With extensive experience working both client-side and within the agency environment, he has authored several articles on topics related to digital marketing, business strategies, and content marketing.